https://www.miningweekly.com

Diamond demand liftoff hindered by China crackdown, group says

8th September 2016

By: Bloomberg

  

Font size: - +

NEW YORK – Diamond sales growth isn’t expected to accelerate any time soon as demand from China continues to slump, according to the president of the World Diamond Council.

Global polished diamond sales used in jewelry will increase 4% a year until at least 2019, according to Andrey Polyakov, who is also a VP at Alrosa PJSC, Russia’s biggest diamond miner. This is essentially in line with Alrosa’s estimates for average annual polished sales growth in the past decade.

“We see stable growth,” Polyakov said Wednesday in an interview in New York, where the Council is based. He says the decrease in Chinese sales – a result of the country’s anti-corruption campaign – will be offset by stable demand from the US, Japan, the Indian middle class and in Europe, where Chinese tourists are supporting sales growth.

Rough-diamond prices dropped 18% in 2015 as slowing Chinese demand and an industrywide credit crunch curbed purchases. Sales of $520-million at a recent auction by De Beers, the world’s biggest supplier, raised hopes that the industry can avoid a second-half slowdown.

Edited by Bloomberg

Comments

Showroom

John Thompson
John Thompson

John Thompson, the leader in energy and environmental solutions through value engineering and innovation, provides the following: design, engineer,...

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Mining Weekly Editor Martin Creamer
Copper shares soar and green hydrogen goes digital
26th April 2024
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.144 0.18s - 106pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: